Block (NYSE:SQ) Stock Rating Reaffirmed by Susquehanna

Block (NYSE:SQ)‘s stock had its “positive” rating reissued by investment analysts at Susquehanna in a report issued on Monday, Benzinga reports. They currently have a $100.00 target price on the technology company’s stock. Susquehanna’s target price would suggest a potential upside of 32.96% from the stock’s current price.

Several other equities research analysts have also issued reports on SQ. Seaport Res Ptn upgraded shares of Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Citigroup boosted their price objective on shares of Block from $76.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Wolfe Research raised their price target on Block from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Robert W. Baird lifted their price objective on Block from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, Monness Crespi & Hardt raised their target price on Block from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.67.

Block Price Performance

Block stock opened at $75.21 on Monday. Block has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average price is $77.01 and its two-hundred day moving average price is $66.81. The stock has a market cap of $46.31 billion, a P/E ratio of 414.23, a P/E/G ratio of 2.08 and a beta of 2.55.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.69 billion. On average, equities analysts predict that Block will post 1.02 earnings per share for the current year.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 4,514 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the sale, the insider now owns 477,290 shares in the company, valued at $37,424,308.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Brian Grassadonia sold 4,514 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares of the company’s stock, valued at $37,424,308.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 656 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $42,180.80. Following the completion of the sale, the chief accounting officer now owns 68,823 shares in the company, valued at approximately $4,425,318.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 363,801 shares of company stock worth $27,284,175. Company insiders own 10.79% of the company’s stock.

Institutional Investors Weigh In On Block

Hedge funds and other institutional investors have recently made changes to their positions in the company. Montag A & Associates Inc. increased its stake in shares of Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after buying an additional 312 shares during the period. Hexagon Capital Partners LLC grew its holdings in Block by 89.6% during the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after acquiring an additional 300 shares during the period. Riverview Trust Co purchased a new position in Block in the first quarter valued at $28,000. Front Row Advisors LLC raised its stake in shares of Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after buying an additional 675 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Block by 38.4% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.